what’s the difference between cowries & Bitcoins?
The Era of Fiat Currency is Gone – Abubakar Suleiman
The Sterling Bank CEO, Mr. Abubakar Suleiman has said the era of fiat currencies is gone. He said this at the official launch of the Bantu Blockchain Network launch which held at Lagos, Nigeria.
He talked about the creation and constituent of value. He said the cost of printing $100 bill and a N100 bill is not different. The reason for the difference between the two currencies is the amount of trust that is spread behind each of them.
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I cannot agree less with the speaker. Why spending more to print when it the value behind the currency that matter.
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True!, it is obvious we spent to print currency.
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Banknote printing is part of the historical monopoly of governments, the new generations with the use of digital currency will be the ones to end this dark business.
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U said it all, and the time is already her for the paper money to give way to the newly digital currency.
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It is a matter of time, this growth of digital money has no barriers.
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